Trade Eyeing USDA WASDE Data for Grain Futures Price Direction

The U.S. Department of Agriculture National Agricultural Statistics Service (NASS) will release updated World Agricultural Supply and Demand Estimates (WASDE) data Thursday morning, and the trade expects the numbers to show declining world corn and soybean stocks and higher world wheat supplies. Thursday’s report won’t include 2021 acreage adjustments, instead focusing solely on demand based on factors like COVID-19 vaccine development, ethanol corn usage and export demand. Analysts expect soybeans to see the most substantial price reaction to Thursday’s WASDE report given the attention on that crop because of things like Chinese export demand and domestic usage/crush data that’s been surging. See what else to expect from Thursday’s big report.